wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Find the purchase price of a share of FV Rs 100 if it is at premium of Rs 30. The brokerage rate is 0.3%.

Open in App
Solution


MV of the share = FV of the share + Premium = Rs 100 + Rs 30 = Rs 130

Brokerage = 0.3% of Rs 130 = 0.3100×130 = Rs 0.39

∴ Purchase price of the share = MV of the share + Brokerage = Rs 130 + Rs 0.39 = Rs 130.39

Thus, the purchase price of the share is Rs 130.39.

flag
Suggest Corrections
thumbs-up
36
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Issue of Shares
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon